Two former Parramatta Eels players are accused of harbouring semi-automatic weapons and possessing more than half-a-million dollars in cash after dramatic arrests in Sydney's Centennial Park yesterday.

Turnbull works on strategic ties in India

Malcolm Turnbull will turn his focus in India from trade to security on the second day of his visit to the subcontinent.

The prime minister and his Indian counterpart Narendra Modi signed new agreements for co-operating on combating terrorism and transnational crime, and civil aviation security at their formal meeting in New Delhi on Monday.

On Tuesday, Mr Turnbull will take part in a strategic roundtable meeting involving Australia and Indian security and foreign policy experts.

"Our work together in the strategic and security spheres continues to gain momentum," Mr Turnbull told reporters after his meeting with Mr Modi.

The Indian prime minister said they both recognised their countries' future was tied to peace and stability in the Indo-Pacific region.

"We are also aware that in this global world, challenges like terrorism and cyber security extend beyond the boundaries of one nation and therefore they require joint strategies and solutions," Mr Modi said.

Later in the day, Mr Turnbull will travel south to India's commercial heart, Mumbai.

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There he will seek to give the growing partnerships between businesses in Australia and India a push-along.

Two-way trade between the countries is now worth $19 billion, which both sides agree is a fraction of its potential.

While the prime ministers agreed to reignite stalled talks on a formal trade deal, Mr Turnbull said it was encouraging partnerships were growing.

"The wheels of industry go on and we're working to identify tangible, commercial opportunities to strengthen two-way trade and investment and this will be a particular focus of my visit to Mumbai," he said.